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Shareholders of L3Harris Technologies Inc (LHX) can enhance their income with a January 2028 covered call at the $350 strike, yielding a premium of $15.70, which adds an annualized return of 2.4%. This would bring their total annualized return, if the stock is not called away, to 4%. The stock would need to rise 23.2% from its current price of $284.04 for shares to be called, offering a potential 28.7% return when accounting for dividends.
As of Tuesday afternoon trading, the put volume among S&P 500 components reached 672,867 contracts compared to 1.56 million call contracts, resulting in a put:call ratio of 0.43. This indicates a high preference for call options in trading, compared to the long-term median put:call ratio of 0.65.
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